Business and Administration Management Degree, Jobs, Salary and Careers

This post will discuss Business and Administration Management, and the difference, in degrees, jobs and salaries in Business and Administration Management.

Before getting starting, we will discuss some of the essential basics.

You might be thinking, is Business and Administration Management the same, or is there any difference between the two?

The answer is Business and Administration Management are two different courses, but they fall under the same branch, i.e. business.

Business is about making money or achieving the best with given resources.

Every enterprise, business, or organization, including nonprofit ones, is administered and managed.

Of course, some enterprises, businesses, or organizations are administered and managed better than others. Thus, practical principles and practices of business administration and management apply to everyone in business, whatever their self-expressed professional identity.

By necessity, the majors covered under the business category are delimited considering the vast number of job titles: 320 alone are listed under the general heading of managers and administrators, according to the U.S. Department of Labor.

The field of business administration and management involves the coordination, implementation, promotion, supervision, and direction of the activities of individuals, organizations, and businesses.

Effective business management techniques constitute the backbone of robust economic, political, and social systems.

Studying in this major exposes you to methods of operation, coordination, sales and marketing, finance and budget, personnel, property and equipment management/maintenance, and security.

Other areas of concentration are organization, leadership, planning, interpersonal communications, delegating, supervising community resources, employee organizations, and policy-making/implementation.

High-School Courses Needed for Business and Administration Management

Accounting
Business
Business Law
Computer Applications
Economics
Entrepreneurship
Management
Marketing
Psychology
Sociology
Speech

The above are the main courses you must take in high school to pursue your career and get a degree in Business and Administration Management.

Now, let us mention the majors you must take for a Business and Administration Management degree.

Majors Required for Business and Administration Management

Accounting
Business Communications
Business Education
Entrepreneurship
Finance and Banking
Human Resources Management
International Business
Labour/Personnel Relations
Management Information
Marketing
Operations Management and Supervision

Skills Required for Business and Administration Management

  • Ability to communicate ideas and concepts to others
  • Proficiency in reading, writing, and speaking
  • Ability to solve problems and make appropriate decisions
  • Strong background in business, marketing, and human relations
  • Proficiency in organizing, planning, coordinating, and directing activities
  • Ability to inspire productivity and exact loyalty from others
  • Ability to respond spontaneously and work well under pressure
  • Intellectual capacity to perform well in most undergraduate and graduate college programs
  • Aptitude for leadership
  • Proficiency in interpersonal communication
  • Proficiency with computers

Where Do General Business Majors Work?

More than two-thirds of all employed general business graduates work for businesses and corporations in the private, for-profit sector of the economy.

Another 15 percent are self-employed, working in their businesses or practices.

The government sector employs 1 out of 10 general business graduates, and 4 percent work for educational institutions. The remaining 3 percent of employed business graduates work for private, nonprofit organizations.

General business graduates possess a broad array of valuable skills in performing management and administrative functions in various industries and occupations.

The extent of the practical application of general business skills enables many graduates to find jobs in their fields.

More than 8 out of 10 general business graduates work in jobs related to their undergraduate major field of study.

About 35 percent are employed in jobs closely related to their major, and another 47 percent consider their jobs somewhat associated with their undergraduate major.

Only 18 percent of general business graduates work in jobs that are not at all related to their undergraduate major.

Why do the latter group of available business graduates work in unrelated jobs?

They cite various factors as possible reasons for their employment in unrelated jobs; when asked to select the one most important reason for working outside their major field of study.

Twenty-eight percent of the graduates point to better pay and promotion opportunities, and 14 percent rank the lack of available related jobs as the number one reason for their employment in unrelated jobs.

About 13 percent consider a change in career interests as the most crucial factor influencing their decision to work in unrelated jobs, and 12 percent believe the general working environment is the top-ranking factor in their employment choice outside the field of public business.

Family-related reasons are the most critical factor influencing the employment choice for 10 percent of the graduates who work in unrelated jobs. About 7 percent rank job location as the key factor in their decision to work in unrelated jobs.

Salary in Business and Administration Management

The average annual salary of general business graduates with only a bachelor’s degree who are employed full-time is $58,600, which is 8 percent higher than the annual average wage of all full-time college graduates.

As with most college graduates, the salary of general business graduates increases with age, indicating that they get more productive and, therefore, can earn higher wages as they spend more time on the job.

Within each age range, the average salary of general business graduates is higher than that of all college graduates in those age groups.

The average annual salary of general business graduates between the ages of 25 and 29 is $41,500. Graduates between the ages of 30 and 34 earn $50,700 annually.

◗ The average annual earnings of general business graduates increase as they get older. The average annual salary of 35- to 39-year-old general business graduates employed full-time is $59,100, increasing to $62,200 for 40- to 44-year-old graduates, followed by another increase to $64,200 among graduates between the ages of 45 and 49.

After increasing to $67,300 among 50- to 54-year-old graduates, the average annual salary of general business graduates peaks at a high level of $69,700 per year at the ages of 55 to 59, and the average yearly salary of available business graduates who work in jobs that are related to their major field of study is considerably higher than the salary of graduates who work in jobs that are not related to their undergraduate major field of study.

Closely related jobs pay full-time employed general business graduates $64,500 annually. Graduates employed in somewhat related jobs earn $58,600 per year, and those whose jobs are unrelated to their undergraduate field of study earn $46,200 per year.

Earning an average salary of $67,700 annually, general business graduates who are self-employed in their businesses or practices earn a higher salary than those employed in other sectors of the economy.

The average salary of graduates who work for businesses and corporations in the private, for-profit sector of the economy is $59,500 per year. The pay of general business graduates in the government sector is $51,700 per year. The lowest salary among general business graduates is in the education sector, where full-time employed graduates earn $42,700 per year. The average annual salaries in 8 out of the top 10 occupations that predominantly employ general business graduates are above the salary of all college graduates employed in those occupations. There are sizable variations in the average annual salaries of general business graduates by the occupation in which they are employed. Just within the top 10 occupations, the average annual salaries of full-time workers range from a high of $74,200 to a low of $34,000. ◗ General business graduates employed in high-level executive, administrative, and managerial occupations earn an average annual salary of $74,200. These occupations predominantly employ male graduates. ◗ Other occupations that predominantly employ male general business graduates— insurance, finance, and real estate— pay graduates an average annual salary of $73,500. ◗ The average annual salary of general business graduates who are employed full-time in marketing and sales occupations is $62,700. ◗ Graduates employed in labor relations, personnel, and training occupations earn $59,700 per year. ◗ The lowest salary among the top 10 occupations is in clerical and secretarial occupations that, respectively, pay general business graduates an average salary of $35,300 and $33,900 per year. Both of these occupations are more likely to employ female than male general business graduates.

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